Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Lithium-Ion Battery Recycling Market: Focus on Battery Chemistry, Source, Recycling Process, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific lithium-ion battery recycling market was valued at $2.3 billion in 2023, and it is expected to grow at a CAGR of 21.85% and reach $16.62 billion by 2033. The expansion of the lithium-ion battery recycling market is driven by the rising demand for electric vehicles (EVs), portable electronics, and renewable energy storage systems. As these batteries reach the end of their lifecycle or become outdated, the necessity to recycle them effectively to reclaim valuable materials and mitigate environmental impact is increasingly important.
The Asia-Pacific (APAC) lithium-ion battery recycling market is witnessing robust growth due to the region's accelerating adoption of electric vehicles (EVs), the proliferation of portable electronics, and the expansion of renewable energy systems. Countries like China, Japan, and South Korea are leading this surge, driven by stringent environmental regulations, government incentives, and the urgent need to manage battery waste.
Efficient recycling processes are crucial for recovering valuable materials like lithium, cobalt, and nickel, reducing dependency on raw material imports, and mitigating environmental hazards. The market's expansion is further supported by advancements in recycling technologies and increasing investments in recycling infrastructure, positioning APAC as a key player in the lithium-ion battery recycling industry.
Market Segmentation:
Segmentation by Battery Chemistry
- Lithium-Cobalt Oxide (LCO)
- Lithium-Nickel Manganese Cobalt (Li-NMC)
- Lithium-Manganese Oxide (LMO)
- Lithium-Iron Phosphate (LFP)
- Lithium-Nickel Cobalt Aluminum Oxide (NCA)
- Others
Segmentation by Source
- Automotive
- Non-Automotive
- Consumer Electronics
- Energy Storage Systems
- Others
Segmentation by Recycling Process
- Hydrometallurgy
- Pyrometallurgy
- Direct Recycling
Segmentation by Country
- China
- Japan
- South Korea
- India
- Rest-of-Asia-Pacific
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications of the lithium-ion battery recycling products available based on battery chemistry (lithium-cobalt oxide (LCO), lithium-nickel manganese cobalt (Li-NMC), lithium-iron phosphate (LFP), lithium-manganese oxide (LMO), lithium-nickel cobalt aluminum oxide (NCA), and others), source (automotive and non-automotive), recycling process (hydrometallurgy, pyrometallurgy, and direct recycling).
The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the importance of recycling. Therefore, the lithium-ion battery recycling business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The lithium-ion battery recycling market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product development.
Competitive Strategy: The key players in the Asia-Pacific lithium-ion battery recycling market analyzed and profiled in the study include lithium-ion battery recycling manufacturers that develop, maintain, and market lithium-ion battery recycling materials. Additionally, corporate strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Some prominent names established in this market are:
- Contemporary Amperex Technology Co.
- Ganfeng Lithium Co.
- Neometals
- Sumitomo Metal Mining Co.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 91 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $2304.7 Million |
| Forecasted Market Value (USD) by 2033 | $16629.5 Million |
| Compound Annual Growth Rate | 21.8% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1 Markets: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.1.1 Rising Demand in Electric Vehicle Industry
1.1.2 Widespread Adoption of Circular Economy as a Sustainable Practice
1.1.3 Rising Demand for Raw Materials
1.2 Supply Chain Overview
1.3 Research and Development
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.6 Impact Analysis for Key Global Events: COVID-19 and Russia/Ukraine War
1.7 Comparative Analysis of Key Battery Minerals
1.8 Start-up Landscape
1.9 Market Dynamics Overview
2 Region
2.1 Regional Summary
2.2 Drivers and Restraints
2.3 Asia-Pacific
3 Market - Competitive Landscape and Company Profiles
3.1 Competitive Landscape
3.2 Company Profile
3.2.1 Contemporary Amperex Technology Co., Limited
3.2.2 Ganfeng Lithium Co., Ltd.
3.2.3 Neometals Ltd
3.2.4 Sumitomo Metal Mining Co., Ltd.
3.3 Other Key Market Participants
4 Growth Opportunities & Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/3ir545
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